There are all manner of different laws and regulations that Forex Brokers do have to adhere to, however it is of course only those Brokers that have obtained a full trading license to operate that have to abide by those laws and regulations.
It is worth pointing out that whilst most of the Forex Brokers that you will come cross online will have a full and valued license to operate and one that has been issued by a licensing authority with teeth, some of them are not licensed or regulated anywhere.
Those that are not licensed are going to be not licensed for a reason, and in the vast majority of cases those Brokers are at some point in time going to rip you off, and they could rip you off in many different ways too.
Therefore make sure you do stick to trading only at fully licensed and regulated Forex Brokers, for that way you will always know that those sites are offering you all manner of protections which include but is not limited to ensuring your trading funds held in those sites are safe and secure and always accessible to you to.
Licensed and Regulated Sites
The way in which you can verify that any Forex Broker is actually licensed and regulated is by checking the website of the authority they claim to have been issued a license by, as they should be listed on the authorities’ website.
Many of the fraudulent Forex Brokers will however proclaim to be licensed and regulated sites but upon further investigation you will find they are not, so always make a point of checking out whether they are licensed and regulated sites or not!
Additional Legal Requirements
Never be too surprised that if you have just signed up to any Forex Broker sites the support or security teams at those sites get in touch with you not long after you have registered as a new user and ask you for copies of your identification documents.
They are legally required to do so however more and more Forex Brokers sites are now putting in place eon their sites and platforms ways for them to be able to electronically verify their customers’ identities without them having to send in any copies of their identification documents!